Member Info for Corryvreckan1

Rubbish game of bingo this, nobody gets 3-4-5-6 on a line!

Detention after class Matador, we may be doing a refresher on primary 1 sums ;)p

"affraid it confirms no rns tmoz regarding ESIA . or does it?"
Nope. It doesn't confirm anything. Could be any number of RNS' tomorrow, we won't know until 7am.

As MI says there were 4 in total today. There was a glitch on LSE that incorrectly counted an extra 2 this morning, as noted in the other thread at 10.11am. 3 issued c.7am + 2 glitch = 5 recorded this morning, and then the REX results RNS came out this afternoon. This glitch happens fairly frequently on LSE, nothing should be read into it.

LSE do not ever know in advance that an RNS may be issued. The whole point of the RNS system is that every market participant gets regulatory information at the same time (conspiracy theories about "insiders" notwithstanding!). We will know when the ESIA is approved only when an actual RNS is issued and available to read, not before (or not ever 'cos it seems like it will never be appro... ;)p

That's it, nothing else.

May be from Berenberg rating out today - 170p and Hold, but their accompanying commentary is not pretty.

No, it's a glitch on LSE, not the first time.
Not to say other RNS won't appear later, but would then expect the 5 to increase if they don't fix the glitch.

I’m not sure I can justify the title Chartist yet, as least not with a capital C. It’s more of a hobby and you will never hear me talk about Fibonacci retracements, or anything that maybe has it’s origins in sorcery.

I seem to be okay at spotting trend lines and patterns but not so good at acting on them, need more courage to my convictions so that I spend less time cursing my inactivity as I watch a chart change exactly as I suspected it would.

Agreed on the new lows point, any minor support that was shown was broken through soon after, but plenty of scope for support/resistance levels on the way up. The first major one looks like the gap to fill back to 168. That came from the HY TU on 26/7 and it’s interesting that the equivalent HY Results on 15/9 bucked that downtrend, and, importantly, did so against the general market direction - so hopefully offering stronger support for a rise. Onward…

Broadly agree with some of what you say MrMilo. There will have to be initial dilution to pay all the fees and debt connected to the CVA, that’s already explicit in the communication received from the Administrators.

The key thing that could move the SP up will be the quality of the new business ventures that the company could invest in. Nothing will happen until the BOD outline their plans.

They also have to get their overdue accounts for last year audited (good luck with that!) and submitted to Companies House, and convince the FCA that the company is now on a sound footing with clear plans. Only then will the suspension be lifted and existing shareholdings once again be available to trade. Not likely to happen in a few days, suspect it could be weeks.

It is worth making clear that the £50m is, at this stage, just a facility available to the company, if their plans justify it. Iconic are not suddenly worth an extra £50m.

Each draw down from the facility will also, in itself, dilute the SP as it will be convertible into shares issued to EHGOSF which they can then sell on the market, exactly as happened previously. This dilution will only be reversed by potential investors having a positive appraisal of the future success of the new ventures and the demand for shares pushing the SP up, amongst other things.

The CVA was just a step along the path, still a way to go. Best wishes to everyone for future success, but keep it real along the way.

p.s. – the suspended share price was 0.016p (= £0.00016) - not 0.16p, 1.6p, or any other number.

Took them over 2 weeks to notify as well! However many they bought on the 6th they timed it very nicely on the first up day. Grrr!

Chart update, for anyone that likes that kind of thing - SP bounced perfectly off the 50 DMA at 134.5 this morning, before succumbing to the same macro induced malaise as everything else on my watchlists. Still above the 20 DMA (122.5), for the 6th day, but closing price will be key. Current score: Macro 1-0 Corry.

LSE have re-used the same pages for the EML ticker but kept most of the old data in place, including this forum - see page 205:
https://www.lse.co.uk/ShareChat.asp?ShareTicker=EML&share=Emmerson&page=205

2 Dec '11 - TEMPORARY SUSPENSION OF TRADING ON AIM - EMERGING METALS LIMITED
Then a gap of more than 5 years until the day Emmerson was listed and these pages re-used:
First Post! 15 Feb '17

So Jim Mellon shareholding info is historic pre Emmerson. The 20m shares were a placing in Emerging Metals that he received in Sept 2011, just 3 months before suspension.

Thanks for all your input here Culpepper. I don't have much insight on the company to offer myself so appreciate your posts.

I can say that chart wise there seems to have been a little recent bounce near the bottom of the downtrend channel that started on the very day of demerger, and the SP has now closed above the 20 day moving average for 4 consecutive days for the first time since May, so positive momentum if it can hold that. 50 DMA is next target at around 135.

The stock market never reports the direction of a trade - whether you are buying from an MM or selling to them - it just reports it as ‘a trade’.

The Buy/Sell section on this site, and many others offering a similar service, is just running a simple algorithm to compare each trade price to the mid point of the reported spread at the time of the trade. If your broker got you a price below the mid point of the spread then LSE will display it as a sell, if above it displays as a buy, if bang in the middle or late reported then it's normally unknown. It's just a guess/indication that works some of the time but by its nature is of limited use.

Look at the trade prices instead to see where the spread in actual operation is. Not clear yet today due to limited trades but you can see the trend on yesterdays trades.

Dark - I'm looking at that presentation just now and slide 10 has the details that SH mentions - 13H spud on 24 Aug and 12H indicated to start late October. Is there somewhere else you are seeing 12H by end Sept?

Your shares will likely be held by Barclays as a nominee along with all their other customer's Iconic shares, in a group but allocated to you within that. Hence why your proxy sent directly wasn't recognised.

As the reply said, you would need to contact Barclay's yourself to give them your voting intentions, which they would then collate and submit with all others, but most broker deadlines were 14th/16th so you may have missed cut off.

Where are you seeing that? I can't find it in today's results announcement.
Thanks

It's a glitch across the board on LSE. 7am RNS are all showing as 2 when only 1 released, post market open releases are all showing correctly.

Just testing.

Your previous post at 11.54 had ./ after the bit they removed so that may have triggered the system to think that it was an unsound link. Don’t know what might have done that at 19.34?

C.V.A.

CVA

My Granny was one of the most intelligent and inspirational of all the people in my life, so I’ll take “Granny Anorak of the year” as a compliment in her honour. Thank you.

“you are saying that there will be no forward looking earnings and growth in the statement from the auditors”
That is exactly what I would have said, even though I didn’t. Auditors don’t issue those statements, the Directors do.

The financial statements for the year ended December 31, 2021 were already issued to the market way back on 28th April, including any forward looking statements from the Directors at that time. Today’s AGM agenda item 1 is just to formally receive them.

The agenda for today is pretty standard:
1. to receive the financial statements for the year ended December 31, 2021, together with the report of the auditors thereon;
2. to fix the number of directors to be elected at seven;
3. to elect directors for the ensuing year;
4. to appoint the auditors of the Corporation to hold office until the next annual meeting of the Shareholders and to authorize the directors to fix their remuneration;
5. to ratify and approve the stock option plan of the Corporation, as described in the management information circular dated August 3, 2022 (the "Information Circular"); and
6. to transact such other business as may properly be brought before the Meeting or any adjournment(s) thereof.

Would need to have given minimum 14 days notice for anything else such as dividend declaration etc. so can't see anything too exciting happening there. Q3 TU due early October so not anticipating anything new until then.

There should be a " after personnel to close the quote from their website. No value quoted is my comment.

Both of these are BAU projects, would not expect an RNS for this type of thing as not material.